The Hindu Business Line : Simone Tata steps down

Ms Simone N. Tata on Monday stepped down as Chairman, Trent Ltd. The company's board has appointed Mr Farrokh K. Kavarana, Director, as the new Chairman.

Ms Tata guided Trent Ltd, established in 1998, first by acquiring the Littlewoods retailing business in India and then overseeing the expansion of Westside over the last six years.

Retail chain Trent Ltd, a Tata Group company, has registered an almost 40 per cent increase in its net profit for the quarter ended September 30 at Rs 8.02 crore (Rs 5.74 crore).

Total income rose by 39 per cent to Rs 124.6 crore as against Rs 89.7 crore.

Commenting on the company's performance Ms Simone Tata said, "At Trent, we have continued to maintain our growth across various formats. The company's profitability was driven by strong demand, backed by quality products and the latest fashion in stores.

"Westside continued to be the key contributor to overall sales and profit growth. In the quarter under review, the company launched new Westside stores in two key locations at Lucknow and Jaipur, taking the total number of stores to 24. Trent's Hypermarket format — Star India Bazaar — continues to achieve a steady increase in revenues and has further consolidated its position in the Ahmedabad market, the company said.

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Simone Tata steps down